Transparency Market Research delivers key insights on the North America railroad tie market. In terms of revenue, the North America railroad tie market is estimated to expand at a CAGR of 4% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the North America railroad tie market.
The North America railroad tie market is broadly affected by several factors, such as natural decay, insect attack, and physical impact & abrasion; investment in railroad tie systems due to replacement of old railroad ties with new ones; and natural calamities ranging from heavy rainfall to floods, which is propelling the market in North America. Key end users are selecting railroad tie on the basis of their specific needs and application areas.
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North America Railroad Tie Market: Dynamics
In terms of tie type, the railroad tie market has been classified into wood tie, concrete tie, composite tie, and steel tie. The demand for wood tie is higher than other railroad ties. In terms of train type, the market has been divided into passenger trains (long distance, short distance, and others) and freight train. Freight trains use more developed railroad ties and hold the highest share. In terms of application, the market has been segregated into tangent, bridges, tunnels, and turnout. Railroad tie is mostly used in tangent.
North America Railroad Tie Market: Prominent Countries
The U.S. has a dominant position in the railroad tie market due to its dense railway network, along with periodic maintenance of ties. Majority of ties installed annually are replacements of existing ones. In addition, the development of various railway projects is expected to help the U.S. dominate the North America railroad tie market during the forecast period.
Growing fuel cost and environmental concerns will lead to shift of consumers from private transport to public transport. Railways are highly fuel-efficient and hence, the need to cater to the growing number of consumers, and strengthen rail services to balance the transportation network is expected to create demand for railroad ties in Canada and Rest of North America.
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Key Players
Key players operating in the North America railroad tie market include Stella-Jones, Koppers Holdings, Inc., L.B. Foster Co, Narstco Inc., Axion Structural Innovations LLC, TieTek LLC, Gross & Janes Corporation, Atlantic Track & Turnout, Vossloh AG, Integrico Composites Inc., Evertrak LLC, and Missouri Tie, LLC.
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